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To: Haim R. Branisteanu who wrote (113240)	7/23/2010 3:36:26 AM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 116555

As a follow up to the post below and other posts that are so critical of the US Banks, WS and this or other administration, I want to emphasis that as a nation the US is one of the more generous compassionate and hardworking nation I know. It is so unfortunate and painful to see that a small percentage of this nation the "scum form the bottom of the barrel" rose to achieve so much power by the sheer power of money and enable the same types to rule and destroy a country the size of the US. No wonder that honest hardworking people could not take the heat and be part of an administration shackled by the financial industry and left on their own accord

To: Haim R. Branisteanu who wrote (113240)	7/23/2010 11:30:59 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116555

As to the EU true that they have high leverage but in most cases on "covered bonds" representing mortgages and other similar loans. Hmm.. since, as I understand it, Covered bonds are not much different that ABS, although remaining on the bank's balance sheet, it still causes me to wonder if they are as sound as advertised, especially when those institutions have leveraged themselves above 50:1 or greater. I think the key is how the lending standards have been upheld and, as I understand it, there was considerable "sub-prime" lending in the PIIGs, especially in Spain and Portugal. So it would seem that European banks were not far behind Wall St. in issuing speculative and risky mortgage loans or sovereign debt far in excess of their GDP. Also, I think both sides are waging war against one another using CDSs, which I didn't see you address. Again.. a pox on both their houses.. Hawk